Real Money

Manulife Announces Chair Transition And Succession

TORONTO, Nov. 30, 2012 /PRNewswire/ - Gail Cook-Bennett, Chair of Manulife Financial Corporation and The Manufacturers Life Insurance Company today announced on behalf of the Board of Directors, the appointment of Richard DeWolfe as Vice-Chair, effective December 1, 2012.

Gail Cook-Bennett will retire from the Board in May 2013, having reached the Board retirement age. As Vice Chair, Mr. DeWolfe will assist the Chair in managing a smooth transition of the affairs of the Board until the 2013 Annual Meeting in May when he will become Chair.

"Over the past few months, the Manulife Board participated in a careful process to identify the next Chair," said Gail Cook-Bennett. "The Board is fortunate to have someone of Dick DeWolfe's experience, ability and knowledge of the Company take on the role of Chair," she added.

"We have benefited enormously from Dick DeWolfe's keen interest and wise counsel, as a Director at large and as Chair of the Audit Committee," said Donald Guloien. "I am looking forward to working even more closely with Dick over the next few years," he added.

Mr. DeWolfe, who joined the Board in 2004, is currently Managing Partner of DeWolfe & Company, LLC, a real estate management and investment consulting firm. He was formerly Chairman and CEO of The DeWolfe Companies, Inc., the largest homeownership organization in New England. Mr. DeWolfe is a director of Avantair, Inc. and holds an Executive Masters Professional Director Certification from the American College of Corporate Directors. Mr. DeWolfe received a BAS, Marketing and Finance from Boston University.

About Manulife Financial

Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, we celebrate 125 years of providing clients strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$515 billion ( US$523 billion) as at September 30, 2012. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.

Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at manulife.com.

SOURCE Manulife Financial Corporation

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